Trex (TREX) Trading 6.3% Higher

Shares of Trex Company Inc (NYSE:TREX) traded up 6.3% during mid-day trading on Thursday . The stock traded as high as $65.65 and last traded at $65.16. 1,061,734 shares changed hands during trading, an increase of 129% from the average session volume of 463,589 shares. The stock had previously closed at $61.30.

Several equities analysts have weighed in on the company. Sidoti upgraded Trex from a “neutral” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research lowered Trex from a “buy” rating to a “hold” rating in a report on Thursday. Finally, SunTrust Banks cut their target price on Trex to $58.00 and set a “hold” rating on the stock in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Trex has a consensus rating of “Hold” and a consensus price target of $36.35.

The firm has a market cap of $3.53 billion, a price-to-earnings ratio of 41.24 and a beta of 2.39.

Trex (NYSE:TREX) last posted its earnings results on Monday, October 29th. The construction company reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.05. The company had revenue of $166.38 million for the quarter, compared to analyst estimates of $173.10 million. Trex had a return on equity of 46.55% and a net margin of 19.16%. The business’s revenue was up 18.7% compared to the same quarter last year. During the same period last year, the company earned $0.68 earnings per share. On average, equities analysts forecast that Trex Company Inc will post 2.29 earnings per share for the current fiscal year.

In other news, VP Christopher Paul Gerhard sold 2,990 shares of Trex stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $83.58, for a total value of $249,904.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frank H. Merlotti, Jr. sold 3,051 shares of Trex stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $77.39, for a total value of $236,116.89. Following the completion of the transaction, the director now owns 24,242 shares in the company, valued at $1,876,088.38. The disclosure for this sale can be found here. Insiders own 0.95% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Trex by 111.2% in the second quarter. BlackRock Inc. now owns 8,768,747 shares of the construction company’s stock worth $548,836,000 after purchasing an additional 4,616,478 shares during the period. Eagle Asset Management Inc. increased its stake in shares of Trex by 95.1% in the second quarter. Eagle Asset Management Inc. now owns 1,903,782 shares of the construction company’s stock worth $119,157,000 after purchasing an additional 928,019 shares during the period. Wasatch Advisors Inc. increased its stake in shares of Trex by 114.1% in the second quarter. Wasatch Advisors Inc. now owns 1,819,058 shares of the construction company’s stock worth $113,855,000 after purchasing an additional 969,587 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Trex by 73.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,441,828 shares of the construction company’s stock worth $90,245,000 after purchasing an additional 609,638 shares during the period. Finally, Conestoga Capital Advisors LLC grew its position in Trex by 113.0% during the second quarter. Conestoga Capital Advisors LLC now owns 1,385,177 shares of the construction company’s stock worth $86,698,000 after buying an additional 734,753 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

About Trex (NYSE:TREX)

Trex Company, Inc manufactures and distributes wood/plastic composite products, and related accessories primarily for the residential and commercial decking, and railing applications in the United States. It offers Trex Transcend, Trex Enhance, and Trex Select protective shells for protection against fading, staining, mold, and scratching; and Trex Hideaway, a hidden fastening system for grooved boards.

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